i dont know if anyone is connecting the dots. the communist takeover of hong kong is huge. its going to have huge
repercussions, hong kong real estate is some of the most expensive in the world . business is going to be brought to a standstill
hsbc has a big face in hong kong. real estate values are going to plummet . the Brits are thinking of ways to expedite hong kong
residents citizenship. another slap at the dying eu. gold buying is going to escalate. the mao revolution killed 30-40 million , then the cultural revolution killed another 10 million . the leaders of the revolution in hong kong have disbanded and fled. gold buying as a result of banks running into trouble as a result of hong kong takeover is going to take center
stage. hong kong has been a center for trade for decades and centuries.
i titled this thread 3of 3 i am serious . we are there now. as i said yesterday gdxj was 100 points higher in 11 when gold was at these levels . miners are still blood in the streets. hello
ps saw trump on cnbs this morning . yes there will be periods where the economy comes back but the lows will be lower. a top in the broad market in 21
was looking at the GDXJ longer term charts, a breakout above 50-53 to me suggests fairly clear selling to next major resistance at 95-100, 55-90 looks like what I call a "speed zone" area and wave wise it would be 3 of 3 and IMO that makes sense since the March to May rally was likely wave 1 of bigger 3 (30.5 pts or so), take 1,618 X wave 1 and that equals close to 50 GDXJ points, add that to the mid June wave 2 bottom (near 42) and that gets you to that same 90-95 area. Lots of things IMO coming together nicely.
Silver as I mentioned to Dharma looks headed for a low in early August, so gold and all the miners should be pulled down too. Notice on the silver chart each rally since last year has been lower (green horizontal line) and it never even got to the 2016 high area (turquoise line).
Edited by Russ, 03 July 2020 - 06:11 PM.